Chief Operating Officer Federated

From: ASAP

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Federated Department
Stores, Inc. (NYSE:FD)(PCX:FD) announced a title change and
expanded responsibility for Terry J. Lundgren. Lundgren, 50, who
has served as president and chief merchandising officer of the
company since May 1997, will assume the additional title of chief
operating officer, effective April 15.

The company also announced today that the Board had previously
extended James M. Zimmerman's current contract as Federated's
chairman and chief executive officer. The contract, which would
have expired May 2003, has been extended at least through February
2004.

In addition to Lundgren's current responsibilities, Tom Cole,
chairman of the Federated Logistics, Operations, Store Planning
and Systems division, now will report to Lundgren, who himself
will continue to report to Zimmerman. Lundgren will continue to be
the senior merchandising executive for the company and, together
with Zimmerman, will continue to supervise all of Federated's
retail divisions.

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